PURPOSE PREPARATORY ACADEMY INC: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
PURPOSE PREPARATORY ACADEMY INC (EIN 46-0693776)
Tax period
2017-07-01 to 2018-06-30
Filed
2019-05-22
IRS object ID
201941429349301234
Schema version
2017v2.3
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2019-05-22T15:22:04-05:00ReturnTs
Tax Period End2018-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN275360847PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CROSSLIN PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13803 BEDFORD AVENUE SUITE 103AddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37215ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN460693776EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PURPOSE PREPARATORY ACADEMY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPURPBusinessNameControlTxt
Phone6157240705PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1220 VENTURE CIRCLEAddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37228ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonLAGRA NEWMANPersonNm
Person TitleFOUNDERPersonTitleTxt
Phone6157240705PhoneNum
Signature2019-05-22SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJEFFREY R SMITHPreparerPersonNm
PTINP00289876PTIN
Phone6153205500PhoneNum
Preparation2019-05-22PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address71.16.89.174IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-05-22IPDt
IP Tm15:20:28IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdC9ED19D146748CAC02A1A8999E376782BC08CAB7AtSubmissionCreationDeviceId
At Submission Filing Device Id0E4C15207DC127BDB52450F77D4060F40C3F1AE4AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerLAGRA NEWMANPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1220 VENTURE CIRCLEAddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37228ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,335,910GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.PURPOSEPREP.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2012FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionTHROUGH RIGOROUS CURRICULUM, HIGH-QUALITY INSTRUCTION, AND POSITIVE CHARACTER DEVELOPMENT, PURPOSE PREPARATORY ACADEMY CHARTER SCHOOL ENSURES THAT ALL KINDERGARTEN THROUGH GRADE FOUR STUDENTS ACHIEVE THE ACADEMIC SKILLS, KNOWLEDGE, AND ETHICAL FOUNDATION TO BE SET ON THE PATH TO COLLEGE.ActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee45TotalEmployeeCnt
Total Volunteers200TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$3,734,978PYContributionsGrantsAmt
CY Contributions Grants$4,314,334CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income-$87,257PYInvestmentIncomeAmt
CY Investment Income$367CYInvestmentIncomeAmt
PY Other Revenue$12,816PYOtherRevenueAmt
CY Other Revenue$21,209CYOtherRevenueAmt
PY Total Revenue$3,660,537PYTotalRevenueAmt
CY Total Revenue$4,335,910CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,848,588PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,311,094CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$30,189CYTotalFundraisingExpenseAmt
PY Other Expenses$1,512,331PYOtherExpensesAmt
CY Other Expenses$1,826,177CYOtherExpensesAmt
PY Total Expenses$3,360,919PYTotalExpensesAmt
CY Total Expenses$4,137,271CYTotalExpensesAmt
PY Revenues Less Expenses$299,618PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$198,639CYRevenuesLessExpensesAmt
Total Assets BOY$4,582,176TotalAssetsBOYAmt
Total Assets EOY$5,237,042TotalAssetsEOYAmt
Total Liabilities BOY$3,815,743TotalLiabilitiesBOYAmt
Total Liabilities EOY$4,271,970TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$766,433NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$965,072NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHROUGH RIGOROUS CURRICULUM, HIGH-QUALITY INSTRUCTION, AND POSITIVE CHARACTER DEVELOPMENT, PURPOSE PREPARATORY ACADEMY CHARTER SCHOOL ENSURES THAT ALL KINDERGARTEN THROUGH GRADE FOUR STUDENTS ACHIEVE THE ACADEMIC SKILLS, KNOWLEDGE, AND ETHICAL FOUNDATION TO BE SET ON THE PATH TO COLLEGE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$2,859,631ExpenseAmt
DescPURPOSE PREP PROVIDES AN ACADEMICALLY CHALLENGING, DISCIPLINED, AND JOYFUL ELEMENTARY SCHOOL TO CHILDREN OF NASHVILLE. WITH AN INTENSIVE FOCUS ON THE ACQUISITION OF ESSENTIAL LITERACY SKILLS, PURPOSE PREP PROVIDES TARGETED AND RIGOROUS INSTRUCTION IN EACH CORE SUBJECT TO MEET THE ACADEMIC NEEDS OF EVERY SCHOLAR. PURPOSE PREP HOLDS SCHOLARS ACCOUNTABLE FOR DEMONSTRATING EXCELLENT BEHAVIOR BY TEACHING THEM THE CHARACTER SKILLS NECESSARY FOR THEIR SUCCESS, SPECIFICALLY THE SCHOOL'S RISE WITH PURPOSE VALUES - PURPOSE, RESPECT, INTEGRITY, SELF-DETERMINATION, AND EXCELLENCE.Desc
Total Program Service Expenses$2,859,631TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document27IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee45EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1EDTEC INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6157635950PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1209 10TH AVENUE S SUITE 416AddressLine1Txt
CityNASHVILLECityNm
State AbbreviationTNStateAbbreviationCd
ZIP37203ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
DALE MITCHELL
TREASURER1.00Yes (X)Yes (X)$0$0$0
LAUREN KING
DIRECTOR1.00Yes (X)$0$0$0
CHARLANDRA WATSON
CHAIR1.00Yes (X)Yes (X)$0$0$0
VINCE DURNAN
DIRECTOR1.00Yes (X)$0$0$0
WILL JACKSON
DIRECTOR1.00Yes (X)$0$0$0
JANNA SMITH
DIRECTOR1.00Yes (X)$0$0$0
RYANN CASEY
VICE CHAIR1.00Yes (X)Yes (X)$0$0$0
SALLIE NORTON
DIRECTOR1.00Yes (X)$0$0$0
CHARLANE OLIVER
SECRETARY1.00Yes (X)Yes (X)$0$0$0
LAGRA NEWMAN
HEAD OF SCHOOL40.00Yes (X)$103,829$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$103,829TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$4,040,627GovernmentGrantsAmt
All Other Contributions$273,707AllOtherContributionsAmt
Total Contributions$4,314,334TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$367TotalRevenueColumnAmt
Exclusion$367ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUSDesc
Business900099BusinessCd
Total Revenue Column$21,209TotalRevenueColumnAmt
Related Or Exempt Func Income$21,209RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$21,209OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,335,910TotalRevenueColumnAmt
Related Or Exempt Func Income$21,209RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$367ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$107,294TotalAmt
Management And General$107,294ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,738,515TotalAmt
Program Services$1,316,347ProgramServicesAmt
Management And General$422,168ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$129,178TotalAmt
Program Services$96,883ProgramServicesAmt
Management And General$32,295ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$200,415TotalAmt
Program Services$150,311ProgramServicesAmt
Management And General$50,104ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$135,692TotalAmt
Program Services$101,769ProgramServicesAmt
Management And General$33,923ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$15,041TotalAmt
Management And General$15,041ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$66,100TotalAmt
Management And General$66,100ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$213,551TotalAmt
Program Services$89,805ProgramServicesAmt
Management And General$123,746ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$7,996TotalAmt
Management And General$7,996ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$78,380TotalAmt
Management And General$78,380ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$115,263TotalAmt
Program Services$84,754ProgramServicesAmt
Management And General$30,509ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$273,520TotalAmt
Program Services$273,520ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$125,168TotalAmt
Management And General$125,168ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$219,862TotalAmt
Program Services$186,883ProgramServicesAmt
Management And General$32,979ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$33,385TotalAmt
Management And General$33,385ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtFundraisingFundraisingAmt
FOOD SERVICES$355,345$355,345
INSTRUCTIONAL EXPENSES$98,507$98,507
STAFF DEVELOPMENT$80,025$80,025
ORGANIZATIONAL DEVELOPM$52,207$22,018$30,189

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$91,827TotalAmt
Program Services$3,464ProgramServicesAmt
Management And General$88,363ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$4,137,271TotalAmt
Program Services$2,859,631ProgramServicesAmt
Management And General$1,247,451ManagementAndGeneralAmt
Fundraising$30,189FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$911,854BOYAmt
EOY$922,315EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$197,975BOYAmt
EOY$104,388EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$158,436BOYAmt
EOY$216,779EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$4,667,900LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$723,139LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$3,232,371BOYAmt
EOY$3,944,761EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$81,540BOYAmt
EOY$48,799EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$4,582,176BOYAmt
EOY$5,237,042EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$970,814BOYAmt
EOY$343,332EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$163,250BOYAmt
EOY$201,085EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$2,629,813BOYAmt
EOY$3,683,652EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$51,866BOYAmt
EOY$43,901EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,815,743BOYAmt
EOY$4,271,970EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$766,433BOYAmt
EOY$965,072EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$766,433BOYAmt
EOY$965,072EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,582,176BOYAmt
EOY$5,237,042EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$198,639ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule B IRS990ScheduleB

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Agent Trustee Etc0AgentTrusteeEtcInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$860,000OtherCostOrOtherBasisAmt
Book Value$860,000BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,048,348OtherCostOrOtherBasisAmt
Depreciation$76,092DepreciationAmt
Book Value$2,972,256BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$518,416OtherCostOrOtherBasisAmt
Depreciation$503,979DepreciationAmt
Book Value$14,437BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$241,136OtherCostOrOtherBasisAmt
Depreciation$143,068DepreciationAmt
Book Value$98,068BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$3,944,761TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescNET PENSION LIABILITYDesc
Amt$43,901Amt
FieldValueIRS element (for citing)
Total Liability$43,901TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$4,335,910TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$4,335,910RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$4,335,910TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$4,137,271TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$4,137,271ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$4,137,271TotalExpensesPerForm990Amt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships Recs0MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3PURPOSE PREPARATORY UTILIZES THE PUBLIC LOTTERY SYSTEM AND CORRESPONDING MARKETING EFFORTS THROUGH THE SCHOOL DISTRICT, WHICH ENSURES OUR RACIALLY NONDISCRIMINATORY POLICIES FOR REGISTRATION AND ENROLLMENT ARE PUBLICIZED THROUGHOUT THE CITY/DISTRICT.
SCHEDULE E, PART I, LINE 4NO FINANCIAL ASSISTANCE OR SCHOLARSHIPS AWARDED. PURPOSE PREPARATORY ACADEMY IS A PUBLIC CHARTER SCHOOL WITH NO TUITION REQUIREMENT.
SCHEDULE E, PART I, LINE 6THE SCHOOL IS A PUBLIC, TUITION-FREE CHARTER SCHOOL AND RECEIVES FUNDS PER PUPIL FROM THE STATE OF TENNESSEE.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BFORM 990 IS PREPARED AND REVIEWED BY PURPOSE PREPARATORY ACADEMY'S BACK-OFFICE FINANCIAL PROVIDER. IT IS THEN GIVEN TO PURPOSE PREPARATORY'S EXECUTIVE DIRECTOR AND THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. ALL OTHER BOARD MEMBERS MAY OBTAIN A COPY FOR REVIEW UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19PURPOSE PREPARATORY ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST OF THE DIRECTOR OF FINANCE, NOTED ON THE STATE'S WEBSITE, AND ARE PROVIDED TO STAFF. SPECIFIC GOVERNANCE DOCUMENTS MAY NOT BE AVAILABLE TO THE GENERAL PUBLIC AND ARE REVIEWED ON AN AS NEEDED BASIS.

Reasonable Cause Explanation ReasonableCauseExplanation

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ExplanationLATE FILED RETURN DUE TO CCH SOFTWARE OUTAGEExplanationTxt

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